Southern Tier West Development Foundation accepts charitable gifts of almost any size or kind, invests the capital, and distributes the income in the form of grants to programs and activities that are consistent with the purpose of the Foundation and that match the donor's interests. Here are some of the most common methods philanthropists choose:

IMMEDIATE GIVING

Cash
Cash is the easiest way to contribute, whether by check, credit card or actual cash. Donors who make gifts of cash are eligible for a charitable deduction in the year the gift was made.

Publicly Traded Securities
Donors who contribute long-term appreciated securities to the Foundation receive a double federal tax benefit. Gifts of appreciated securities are deductible at their full market value if held longer than 12 months. Fair market value is the mean between the high and low trades on the date of the gift. The capital gains tax on the stock's appreciation (the difference between the property's cost basis and its present fair market value) is completely avoided. The fair market value of the donated securities can be deducted up to 30 percent of the donor's adjusted gross income, with a five-year carry-forward if required.

Closely Held Stock
Closely held stock are shares in a privately owned business. The shares are usually owned by family members, top management, and the corporation itself. The stock can be contributed outright to the Foundation, and the donor is entitled to a deduction for the appraised fair market value. The donor also avoids the potential capital gains tax on any appreciation in the value of the stock. Subsequent to the gift, the Foundation may sell the stock to the corporation or to other shareholders for cash. There can be no prior agreement between the charity and a potential buyer before the gift is made. The donor is entitled to a deduction for the full value of the stock up to 30 percent of his or her adjusted gross income. A "qualified appraisal" is required if the claimed value exceeds $10,000.

Real Estate
Residential property, commercial or industrial sites, and undeveloped land are attractive assets for charitable giving. You can contribute a piece of real estate, or a partial interest in a piece of real estate to the Southern Tier West Development Foundation. Some donors chose to contribute property to the Southern Tier West Development Foundation while retaining the right to live there during their lifetime. Donors are entitled to deduct the value of the asset, though the determination of that value may require independent assistance.

Personal Property
Virtually anything of value can be donated to charity. There are special rules that apply to the donation of personal property, and you should discuss your plans with the Southern Tier West Development Foundation ahead of time.

PLANNED GIVING
Through a planned gift to the Southern Tier West Development Foundation, you may be able to make a more substantial gift than previously imagined. The term "planned giving" describes the ways in which individuals make charitable gifts for the future. You can make a planned gift to an existing fund or establish a new fund.

Bequests
You can make a provision in your will or living trust for a gift to the Southern Tier West Development Foundation. This is perhaps the simplest form of planned giving and the vehicle most commonly used. Gifts by will are deductible for federal estate tax purposes. Gifts can be designated for a special purpose or institution, or for the general charitable purposes of the region. Through a bequest, you can establish a permanent named fund or add to an existing fund. As with other charitable gifts, you can direct how your bequest is used, targeting your gift to a specific cause or program, or making an unrestricted bequest.

Charitable Gift Annuity
A gift annuity is a simple, contractual agreement between one or two donors and the Foundation in which the donor(s) transfer assets to the Foundation in exchange for the Foundation's promise to pay the donor(s) an annuity.

Charitable Remainder Trusts
The most popular and flexible type of life income plan is a charitable remainder trust. Cash, securities, real property, or other assets are transferred into a trust. The trustee manages the trust assets and pays you or others you choose either a fixed or a variable income for life or for a term of years. When the trust terminates, the remaining assets in the trust are transferred to the Southern Tier West Development Foundation.

Pooled Income Fund
A pooled income fund is a special fund contributed to by any number of donors with the understanding that each donor will receive income from the Fund during the rest of their lives (or for the lives of the persons they designate to receive the income). When each donor (or their designee) dies, the value of those shares becomes the property of the Southern Tier West Development Foundation for its charitable purposes.

Charitable Lead Trusts
This trust pays out income to the Southern Tier West Development Foundation for a specified number of years. When the term is up, the principal can be passed to your children or grandchildren with estate and gift taxes reduced or even eliminated.

Individual Retirement Accounts
Donors can help their heirs save on taxes by naming the Southern Tier West Development Foundation as the beneficiary of their Individual Retirement Account and establishing a charitable trust. The trust provides income for the donor's children or loved ones for the next 20 years, after which the balance is used to create a permanent fund in the donor's name. Under this arrangement, the donor's heirs will receive more income than if they named them the outright beneficiaries of the IRA. Another alternative is to name the Southern Tier West Development Foundation as the outright beneficiary of your IRA. Instead of being reduced by income and estate taxes, your IRA-and all of its assets-will continue to benefit your community.

Life Insurance
Donors can name the Southern Tier West Development Foundation as the owner and beneficiary of a new or existing life insurance policy and receive a current income tax charitable deduction.